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World Bank report positive for China's growth

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World Bank report positive for China's growth

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The latest World Bank report has upgraded China’s economic growth forecast from 9.5 to 10%, stating that a combination of less aggressive inflation and food prices are the key drivers.

They hailed the move by Beijing to raise interest rates last month for the first time in three years, but warned against the artificial devaluation of currencies, stating that they lead to global imbalances and tensions.